After a continuous four day fall in the last few trading sessions, Indian share markets bounced back on Thursday. In opening spell, the Nifty 50 was trading 151.80 points, or 0.61%, higher at 24,629.85, while the BSE Sensex rose 504.70 points, or 0.62%, to 79,626.04. Among Sensex constituents, Reliance Industries, Adani Ports and Special Economic Zone, and Bajaj Finance emerged as the top gainers in early trade.Broader markets outpaced the benchmarks, with the Nifty Midcap 100 rising 1.07% and the Nifty Smallcap 100 gaining 1.11%.On the sectoral front, the Nifty Realty Index led the gains, followed by the Nifty Oil & Gas Index and the Nifty Auto Index.
Market experts noted that despite the positive opening, the broader sentiment remains cautious due to global uncertainties and rising geopolitical risks. Ajay Bagga, Banking and Market Expert, told ANI, "The world is breathing a sigh of relief, but India is still catching its breath. Expect a gap-up opening followed by a tug-of-war between "value hunters" (DIIs) and "exit seekers" (FIIs). Until the Nifty convincingly reclaims the 24,800 mark, consider any rally as an opportunity to lighten positions rather than a signal to go "all-in." All three, Nifty 50, Bank Nifty and Sensex remain in an 'oversold" zone, ripe for a bounce. But the Rupee weakness, oil price hike, looming shortage of cooking gas and LNG and the risk to 1 crore Indian expats working or living in the Middle East are all geoeconomic risks that are weighing on Indian markets".
Asian markets also showed gains during early trading. South Korea's Kospi rebounded sharply with an 11 per cent surge to 5584 level after witnessing a historic 12 per cent plunge earlier. Japan's Nikkei 225 index surged 1.81 per cent to 55285 level, Singapore's Straits Times gained 0.87 per cent to 4854 level, Hong Kong's Hang Seng index rose 1.19 per cent to 25531, while Taiwan's weighted index gained 2.71 per cent to 33719.